ANI Pharmaceuticals (NASDAQ:ANIP) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners started coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $80.00 price target on the specialty pharmaceutical company’s stock. Leerink Partners’ target price would indicate a potential upside of 35.23% from the company’s previous close.

Other analysts also recently issued reports about the company. Truist Financial raised their target price on ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler initiated coverage on ANI Pharmaceuticals in a research note on Friday, October 11th. They issued an “overweight” rating and a $68.00 target price for the company. Raymond James raised their target price on ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. StockNews.com downgraded ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, ANI Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $77.71.

ANI Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ:ANIP opened at $59.16 on Wednesday. The firm has a market cap of $1.24 billion, a P/E ratio of -107.56 and a beta of 0.73. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52. ANI Pharmaceuticals has a 12-month low of $48.56 and a 12-month high of $70.81. The business has a fifty day simple moving average of $58.01 and a 200 day simple moving average of $60.39.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings results on Friday, November 8th. The specialty pharmaceutical company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. ANI Pharmaceuticals had a positive return on equity of 15.87% and a negative net margin of 1.28%. The firm had revenue of $148.30 million during the quarter, compared to the consensus estimate of $144.37 million. During the same period last year, the business posted $1.05 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. Analysts predict that ANI Pharmaceuticals will post 3.87 earnings per share for the current year.

Insider Buying and Selling

In other ANI Pharmaceuticals news, CEO Nikhil Lalwani sold 33,481 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $57.99, for a total value of $1,941,563.19. Following the completion of the sale, the chief executive officer now directly owns 370,378 shares of the company’s stock, valued at $21,478,220.22. The trade was a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 33,981 shares of company stock worth $1,970,066. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new position in ANI Pharmaceuticals in the second quarter worth about $65,000. Ridgewood Investments LLC purchased a new stake in ANI Pharmaceuticals in the second quarter worth about $85,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ANI Pharmaceuticals by 24.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock worth $177,000 after purchasing an additional 579 shares during the period. XTX Topco Ltd purchased a new stake in ANI Pharmaceuticals in the second quarter worth about $207,000. Finally, HighTower Advisors LLC purchased a new stake in ANI Pharmaceuticals in the third quarter worth about $222,000. 76.05% of the stock is owned by institutional investors.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract development and manufacturing of pharmaceutical products.